Rexford Industrial Realty, Inc. Forecasted to Earn Q2 2024 Earnings of $0.57 Per Share (NYSE:REXR)

Rexford Industrial Realty, Inc. (NYSE:REXR) – Equities research analysts at Wedbush issued their Q2 2024 earnings estimates for Rexford Industrial Realty in a report released on Monday, April 22nd. Wedbush analyst R. Anderson expects that the real estate investment trust will post earnings per share of $0.57 for the quarter. Wedbush has a “Neutral” rating and a $45.00 price target on the stock. The consensus estimate for Rexford Industrial Realty’s current full-year earnings is $2.33 per share. Wedbush also issued estimates for Rexford Industrial Realty’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.32 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.65 EPS and FY2025 earnings at $2.54 EPS.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The firm had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. During the same period last year, the business earned $0.52 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year.

REXR has been the subject of several other research reports. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Wednesday, February 7th. Barclays raised their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Tuesday. Robert W. Baird reissued a “neutral” rating and set a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Mizuho reissued a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Finally, TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $54.73.

Rexford Industrial Realty Stock Up 1.1 %

Shares of NYSE:REXR opened at $43.01 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a 50 day moving average of $49.50 and a two-hundred day moving average of $50.46. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 39.46, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of REXR. Envestnet Asset Management Inc. raised its position in Rexford Industrial Realty by 139.5% in the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after acquiring an additional 135,627 shares in the last quarter. Pacer Advisors Inc. raised its position in Rexford Industrial Realty by 12.8% in the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock worth $11,647,000 after acquiring an additional 23,510 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Rexford Industrial Realty in the fourth quarter worth about $3,327,000. Daiwa Securities Group Inc. raised its position in Rexford Industrial Realty by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock worth $4,480,000 after acquiring an additional 1,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Rexford Industrial Realty by 6.8% in the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock worth $15,506,000 after acquiring an additional 19,981 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Rexford Industrial Realty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s payout ratio is 153.21%.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.